Google To Buy AdMob for $750 Million
AdMob is a top advertising platform for the mobile internet and Google is buying them for $750 million. The acquisition will provide Google with an immediate 30-40% of mobile advertising market share as stated in this Bloomberg article on the forthcoming purchase.
Many of the proposed ads will be delivered inside of iPhone apps available to mobile users. Typically in the form of a banner located at the bottom of the app or page. Ads will also be embedded in search results for popular products searched online.
Obviously fueling Google’s move is the incredible growth in mobile internet. CEO of Google, Eric Schmidt, is quoted as saying …
Our mobile revenue is growing faster than our regular revenue
The AdMob acquisition is Google’s largest since the buyout of YouTube for $1.65 billion in 2006. Google is also hiring again in preparation for their expansion into mobile internet advertising.
For more information, read this open letter to the public by Omar Hamoui, Founder and CEO of AdMob. Interesting in Omar’s comments is his statement about how slowly mobile advertising initially proceeded. He attributes rapid growth to the introduction of the iPhone.
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